[Korea] Deposit Interest
Deposit Interest — runs in your browser. Inputs are not stored.
Deposit terms
Enter values, then press Calculate.
※ Compare pre-tax interest and the after-tax amount. Simple and monthly compound interest are approximations for reference and may differ from your contract.
How to use
- Enter the principal you will deposit.
- Enter the term in months.
- Enter the annual interest rate.
- Choose simple interest or monthly compound, then press Calculate.
- Check the box if the product is tax-exempt. Review pretax interest, tax, and after-tax proceeds.
Key concepts: simple vs monthly compound and after-tax interest
Simple interest applies interest only to principal. Monthly compound assumes each month’s interest is added to principal. Real deposits may differ from the bank app because of day-count and payout cycles. Separating pretax interest and after-tax proceeds keeps “how much interest” distinct from “what lands in the account.” Maturity totals are often mostly principal, so check the interest line on its own.
Ordinary taxation assumes 15.4% interest-income tax (Korea). Results are for reference and may differ from the product contract. No specific bank rate is guaranteed.
Example
Try principal 10,000,000 KRW, 12 months, 3% annual, once with simple interest and once with monthly compound to gauge the interest gap. Change the term to 6, 12, and 24 months and compare after-tax maturity amounts. For monthly installment savings, use the savings interest calculator.
Related: Savings interest calculator · Loan interest calculator · VAT calculator
Frequently asked questions
How much tax is taken from deposit interest?
Ordinary taxation is 15.4% on interest income. With the tax-exempt box checked, it is 0%.
How is this different from installment savings?
A deposit is a lump sum; installment savings are paid monthly. Use the <a href="/tools/savings-interest/">savings interest calculator</a> for those.
Why don’t the numbers match bank interest?
Day-count, payout dates, and preferential rates are not applied.
Which is correct, simple or monthly compound?
Follow the product’s interest payout and compounding cycle. This tool is for comparing the two assumptions.
What if I close before maturity?
Early-termination rates are not applied.
I mix this up with loan interest
Deposit interest is what you receive; loan interest is what you pay. For borrowing, see the <a href="/tools/loan-calculator/">loan interest calculator</a>.
Last reviewed: 2026-09-04